COURBEVOIE (dpa-AFX) - French building materials firm Saint-Gobain (CODGF.PK) announced Tuesday that it has acquired High Tech Metal Seals or HTMS, a designer and manufacturer of engineered metal seals for the industrial, energy and aerospace markets.
HTMS, founded in 1999, provides very advanced metal sealing solutions for use under extreme temperature and pressure conditions. The company employs about 50 people at one site in Belgium.
The acquisition is in line with its strategy of developing technological niches. The acquired business will join the Mobility business, extending further the seals product range offering and solutions for critical applications.
The company expects the acquisition would accelerate its growth, in particular in aerospace, and the business will benefit from its global sales platform, notably in Asia.
Saint-Gobain said the latest deal completes its product range in offering tailor-made solutions in the sealing industry, after the acquisition of American Seal and Engineering Co. at the start of 2019.
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